Non traditional marketing - Prof Iñigo Gallo
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Non Traditional MarketingIñigo Gallo
Assistant Professor – IESE Business School
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“It’s hard to say exactly what has driven the shift -perhaps it is our connected lives, or our abundance of choice, or the ability to get what we want when
we want it. But anyway you explore the trend, a new consumer is emerging: the Empowered Consumer”
Steven Rosenbaum
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new consumer?
NEW CMO?doing orga-
nizingplanning
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doing orga-nizingplanning
challenges we face
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doing orga-nizingplanning
challenges we face
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CHALLENGE #1: understand new journey
% of decisions?
90% of budgets
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CHALLENGE #1: understand new tool kit
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CHALLENGE #1: understand new tool kit
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CHALLENGE #2: audiences vs. consumers
be part of the
conversa-tion*
generatethe
conversa-tion
*25% of content that appears in web searches for specific brand names is generated by consumers
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CHALLENGE #2: audiences vs. consumers
be part of the
conversa-tion
generatethe
conversa-tion
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0
5
10
15
20
Daily Once aweek
Once amonth
Once ayear
Neverdone this
MBA interactions w/ brands on social media
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average views x video – top 100 global brands
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how to overcome thelack of engagement?
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22
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What consumers care about What I
know about
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the art of storytelling
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CHALLENGE #3: experiences vs. products
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experiences around your
product
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Enjoy it out of home (with someone else)
PRODUCTyogurt
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Enjoy it out of home (with someone else)
PRODUCTCloser to cafeteria
style & participate in the elaboration process
coffee
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Enjoy it out of home (with someone else)
PRODUCT
Participate in the elaboration process
Learn: analyze, track, compare, …
tennis gear
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how do you communicate an
experience?
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communication of experiences is PERSUASIVE as long as it helps consumers TRANSPORT
into the experience
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doing orga-nizingplanning
#1 new journey#2 audiences
#3 experiences
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doing orga-nizingplanning
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CHALLENGE #1: complex media plans
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CHALLENGE #2: understanding new metrics
Source: Hoffman and Fodor, Can You Measure the ROI of Social Media Marketing?, MIT Sloan Management Review, 2010
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Don’t give me information…
Give me INSIGHT
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CHALLENGE #3: understanding attribution
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1 Prepare your data
store it so that comparison is easy
detect patterns and apply simple rules
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CHALLENGE #3: understanding attribution
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1 Prepare your data
2 Experiment
TV spendingorganic search
display advertising
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culture ofexperimentation
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1 Prepare your data
2 Experiment
3 Apply statistical models
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math increasingly important
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doing orga-nizingplanning
#1 media plans#2 metrics
#3 attribution
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doing orga-nizingplanning
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CHALLENGE #1: break the silos
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develop / find the talent!
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digital marketing
doesn’t matter
marketing in adigital world
does
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transactionalcustomers
consultativecustomers
Know what they want
You: commodity
Don’t want to meet
Cost focus
Criteria: price & convenience
Have a problem
Value your time
Want meetings
Advice focus
Criteria: expertise& trust
type of products / clients / salespeople
$Source: Neil Rackham, To increase sales change the way you sell, IESE Insight 2014
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CHALLENGE #2: more agencies, less work
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CHALLENGE #2: more agencies, less work
jury notout yet
coordi-nation
costs up
respon-sibility
stillyours
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CHALLENGE #3: total transparency, a must
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challenges we face
doing orga-nizingplanning
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Non Traditional Marketing
Iñigo Gallo